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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Recover as European Nat-Gas Surges

October Nymex natural gas (NGV26) on Thursday closed up +0.012 (+0.43%).

Nat-gas prices rebounded from a 2-week low on Thursday and settled higher. Short covering emerged in nat-gas on Thursday, supported by carryover from a rally in European nat-gas prices to a 3.75-year high. European nat-gas is soaring as sharply reduced supplies from the Middle East due to the closure of the Strait of Hormuz from the US-Iran war may boost European demand for US gas supplies. European nat-gas storage levels are well below normal, a bullish factor ahead of winter, when demand typically surges.

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